TaxGuyBill
Level 15
03-29-2024
07:05 PM
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@HOPE2 wrote:
Around January 2024 he contributed on Roth 401-K and Solo401-K under his name for the year of 2024. (same description: 2024 employee contribution)
now I think he should cancel recent solo 401-K contribution under his name? Am I right?
and run 401-k through the payroll because he wants to have a employee for 2024.
Yes. Any 401k contributions for 2024 need to be through the S-corporation and the employee portion is processed through payroll.